A. Purpose
To establish responsibility and reporting requirements for accounting of district funds.
B. Policy
The chief financial officer shall be responsible to the chancellor for the proper accounting of all district funds.
An annual external audit of all district funds shall be performed, and the cost of the audit shall be a charge against the funds of the district.
C. Procedures
District funds shall be received, recorded and accounted for in the Finance Office. The external audit shall be performed by a certified public accountant licensed in the State of Missouri and encompass all district funds. The audit shall include an opinion as to the presentation of the college’s financial statements and conformance with applicable accounting standards and regulations.
The managers of auxiliary and ancillary enterprises belonging to the college, and the treasurers of the various student organizations receiving activity funds, shall be responsible to the chief financial officer for the accounting of all receipts.
D. Definitions
- District funds
All funds for which the college has financial responsibility.
G. Implementation
Policy approved and adopted by the Board of Trustees and revised on 11/13/24.
Purpose, procedures, responsibilities and definitions approved and adopted by the Cabinet and revised on 8/15/05 and 10/04/24.
Set for review 2027-2028.